Today, DIPAM launched its new asset monetisation portal, inviting bids to sell six non-core assets of state-owned telecom firms BSNL and MTNL.
The Department of Investment and Public Asset Management (DIPAM) officially launched the non-core asset monetisation process today by inviting bids for the sale of six assets from BSNL and MTNL, two state-run telecom firms.
“The first six BSNL/MTNL properties are being bid out on the MSTC portal for non-core asset monetisation,” DIPAM Secretary Tuhin Kanta Pandey tweeted.
According to reports, the government has put the real estate assets of telecom companies up for sale at a reserve price of around 1,100 crore.
Following the announcement that the government intends to resurrect MTNL, the company’s shares rose as much as 15% to 20.70 on November 18, the highest intraday gain since March 10. MTNL’s stock has risen 30.4 percent this year.
MTNL, which was established by the government in 1986, reported a loss of 653 crore this year, up from 583 crore the previous year. The total debt of the company as of December 31, 2020-21 was $25,615.
The DIPAM handles the sale of non-core assets such as land parcels or real estate, which is similar to the NITI Aayog’s pipeline of core assets for monetisation. It is a goal to capitalise on the value of state-owned land.
Unlike the National Monetization Pipeline (NMP), however, the new plan is solely focused on the government’s “non-core assets.”
